Comparison of Buying-Selling Paper Gold Prices Among Banks

As of writing, there are currently 5 banks that offer their account holders the opportunity to invest into Paper Gold. The 5 banks are:

• UOB Bank (UOB Gold Savings Account)
• CIMB (CIMB Gold Savings Account)
• Public Bank (Public Bank Gold Investment Account)
• Maybank (Maybank Gold Investment Account)
• Kuwait Finance House (KFH Gold Account-i) 

*click on link to find out more information about that gold savings/investment account

When deciding to purchase paper gold one of the key factor to consider is the "Difference between Selling and Buying Price offered by the bank".

Lower price difference between selling and buying price allows investors to benefit from the following:

• Earn higher returns.
• Quicker recouping of investment when gold price rises.

However, I would like to remind that this is just one of the key factor when considering which bank you would like to open your gold investment account with. Other factors such as convenience in buying and selling (e.g via online), availability of funds in that bank and having a single bank account to manage all your investment should be taken into consideration as well.

Comparison of Buying-Selling Paper Gold Prices Among Banks

Paper Gold Comparison - price RM per gram
	Selling*	Buying*	Difference	% Difference
UOB Bank	164.70	162.70	2.00	1.23%
CIMB	165.30	159.70	5.60	3.51%
Public Bank	166.47	159.93	6.54	4.09%
Maybank	165.94	158.99	6.95	4.37%
Kuwait Finance House	166.90	159.30	7.60	4.77%

*Buying and Selling Price as of 19th February 2013

Kuwait Finance House Gold Investment Account

Kuwait Finance House (KFH) is the first foreign Islamic bank in Malaysia that offers investors an opportunity to invest in paper gold. The Kuwait Finance House Gold Investment Account also know as KFH Gold Account-i allows investors to conveniently invest and trade in Gold according to the Shariah Concept of Bai' As-Sarf & Qardh. The account allows investors to track and plan their investments as all trades are recorded in the account statement.

Benefits:

• Enjoy peace of mind when you purchase gold without having to keep the physical gold.
• Withdraw the physical gold on the spot or have the Bank retain the gold under Qardh concept.
• Purchase/Sale can be arranged via debit/credit from your KFH Savings Account-i or KFH Current Account-i.
• Affordable initial deposit as low as 10gm (for individuals/joint) & 50gm (for non-individuals)
• Opportunity for capital gain if gold price appreciates.
• No charges imposed on safekeeping and withdrawal
• 24-hour Customer Contact Centre

Purchase of Gold:

Initial:

• Individuals / Joint: 10gm, in multiple of 1gm
• Non-Individuals: 50gm, in multiple of 1gm

Subsequent: 1gm, in multiple of 1gm

Fineness of Gold:

995.0

Denomination:

1, 5, 10, 20, 50 & 100 gm

Eligibility:

Individual / Joint Account

• Male & Female individual who have attained the age of 18 years old
• Malaysian citizen, permananet resident or non-resident

Non Individual Account

• Non Individual such as associations, societies, companies, or other business entities that KFH Malaysia finds suitable or acceptable